£13trillion is ‘offshored’

Labour bid for global tax grab

When Philip Hammond isn’t trying to save his job from Tory MPs who want him sacked, the Chancellor says there’s no money to properly pay our hardpressed public sector workers – branding them “overpaid”. He has no money to stop cuts to in-work benefits like Universal Credit, or end the NHS crisis.

Yet he can find billions to hand to the DUP to prop up the failing government. And still finds billions in tax giveaways to big multinationals. But worse than putting a wealthy few first is the Tories’ lack of desire to gather in the £36billion in uncollected tax.

There’s also an estimated £13trillion hidden from the taxman in offshore trusts.

Theresa May is tough on hardworking families but soft on tax dodgers. These multinationals should be grateful for access to UK customers. They benefit and make a profit from one of the richest countries on the planet.

Taxpayers in this country help make this a marketplace they wish to do business in. So they should be proud to pay their fair share in taxes to help keep this country a good place to do business. Instead of firing tax collectors and squabbling, this weak Tory government should be stopping firms swinging the lead.

The next Labour government will clamp down on tax avoidance and build an economy which works for the many, not the few.

MONEY HAVEN Wealthy Cayman Islands